Six Flags Trustee, Noteholders Oppose Ch. 11 Plan

Law360, New York (April 23, 2010, 2:23 PM EDT) -- Just as bankrupt theme park operator Six Flags Inc. is patching things up with noteholders bearing $532 million in unsecured claims, the debtor’s latest Chapter 11 plan has come under attack from other stakeholders, including the U.S. trustee and another bloc of noteholders with $430 million in claims.

On Thursday, Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware approved a stipulation that brings a former opponent, the ad hoc committee of Six Flags Inc. noteholders, on board for the debtor’s...
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